Industrialist Pallonji Shapoorji Mistry passed away on Tuesday at the age of 93 at his Walkeshwar residence. He is survived by his wife Patsy, daughters Laila Rustom Jehangir, Aloo Noel Tata, sons Shapoor Mistry and Cyrus Mistry, who has been at the centre of the Tata Sons feud. In 2016, Pallonji received the Padma Bhushan and helmed the construction conglomerate Shapoorji Pallonji group till 2012.
Prime Minister of India Narendra Modi, Maharashtra Chief Minister Uddhav Thackeray and other prominent personalities have expressed grief at his demise.
Born on June 18, 1929, Pallonji was schooled in Bombay, as it was then called. He joined his family business, Shapoorji Pallonji & Company Ltd, in 1947 at the age of 18, under the watchful eyes of his father, Shapoorji Pallonji Mistry.
His family said he embodied the Zoroastrian virtues of ethics, integrity, and fair play in all dealings, besides being sympathetic and generous to less fortunate sections of society. “A deeply religious and family man, his attributes of humility, graciousness and old world charm were witnessed in abundant measure by all those who interacted with him,” the family said in a statement.
Pallonji learnt the ropes of the business from his father very quickly, and witnessed first-hand the ups and downs of the evolving Indian business culture. He took over the reins of the company in 1975, when his father passed away. Unlike his father, who focused largely on construction, Pallonji grew it manifold over the several decades he was in charge. “He was an astute businessman and quick to spot new opportunities that India’s industrialisation and growing economy presented,” the family said.
Towards the end of the 1960s, Pallonji had the incredible foresight, confidence, and determination to venture abroad. Construction in the Middle East, fuelled by petrodollars, was booming. Under his leadership, the company bid for, and won, a tender to build the Palace of HM Sultan Qaboos bin Said al Said in Muscat. When HM Sultan opened his Muscat Palace for visitors in 1975, it not only established Shapoorji Pallonji as the first Indian construction company to have completed a project abroad, but the palace also became a showpiece of Indian capabilities to the world. It was hailed as a construction marvel and acknowledged so.
Over the years, he served on the boards of several companies and organisations, namely Union Bank of India, W H Brady Group of Companies, the Associated Cement Companies Ltd., of which he was also chairman for several years, and Tata Sons Ltd. Outside of the charitable trusts, Pallonji Mistry’s holding of 18.4 per cent made him the single largest shareholder in Tata Sons, the holding company of the Tata Group.
In early 2012, Pallonji stepped down as chairman of Shapoorji Pallonji And Company Pvt Ltd, the operating and holding company of the SP Group, and handed over the chairmanship to his elder son Shapoor Mistry.
In 2006, along with his wife Patsy, Pallonji funded and set up a home for senior citizens of the B D Petit Parsee General Hospital in Mumbai.
